Envestnet Asset Management Inc. Decreases Stock Position in ResMed Inc. (NYSE:RMD)

Envestnet Asset Management Inc. lessened its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,054 shares of the medical equipment provider's stock after selling 4,581 shares during the period. Envestnet Asset Management Inc. owned 0.08% of ResMed worth $26,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after acquiring an additional 160,590 shares during the last quarter. Geode Capital Management LLC raised its position in ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares during the period. Invesco Ltd. lifted its stake in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Northern Trust Corp grew its holdings in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock worth $389,365,000 after purchasing an additional 290,664 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ResMed by 28.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock worth $218,310,000 after purchasing an additional 212,201 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on RMD shares. KeyCorp set a $274.00 target price on shares of ResMed in a research note on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a research report on Wednesday, April 16th. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.58.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director directly owned 71,218 shares in the company, valued at approximately $17,252,560.50. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the sale, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,013 shares of company stock valued at $7,238,913 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

RMD traded down $2.13 on Tuesday, hitting $251.98. 1,019,805 shares of the company traded hands, compared to its average volume of 969,524. ResMed Inc. has a 12-month low of $196.43 and a 12-month high of $263.05. The company has a 50 day moving average of $250.63 and a 200-day moving average of $236.92. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $36.95 billion, a PE ratio of 28.28, a PEG ratio of 1.59 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the company posted $2.13 EPS. ResMed's revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.